OK. I think this part of the BP article is very "oriented" because it's clear that very few taxpayers who file 5M+ THB can get an effective PIT rate < 20%.
Using this tax calculator https://www.uobam.co.th/en/tax-calculation, with 5 M income and I use all the possible deductions/allowances - wife, 3 children, 4 parents, 1 disabled person, all the possible investments, life insurance etc. I come to a net income of 2,683,819.95 and tax to be paid 570,145.98, which is 11.4%.
A tax adviser creative more than me can easily come to 10%.
Back to the Bangkok Post article. A few quotes that's interesting:
"For example, salaried employees bear 80% of the total personal income tax burden. However, only 4 million individuals pay personal income tax, though the labour force tallies 40 million. This means only 10% of the total workforce pays income tax."
I think it's time we were grateful to the Royal Thai Police for doing an excellent job tracking down these criminals pretty quickly and apprehending them!
I am merely basing my predictions on what happened last time under Trump. Perhaps you have forgotten how his trade war with China screwed American farmers, so badly they needed massive subsidies to placate them.
IMO it will be even worse this time around, because the people Trump appoints to various positions will need only one qualification - absolute loyalty. Competence and nous are not even on the radar.
As far as Harris is concerned, Americans will probably never be adult enough to elect a female leader. The Democrats failed to learn that lesson with Clinton.
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